IMA acquires 70% of Ciemme

The IMA Group strengthens its range of  end-of-line machines. On 25 June 2018 IMA  finalised  with  the  Brenna  family  the  acquisition  of  70%  of Ciemme  S.r.l.,  based  in Albavilla (Como), which manufactures and markets end-of-line automatic machines, as announced on 28 May 2018.

IMA ’s financial cash out is around 14 million euros, of which 1.5 million euros paid at the closing and the balance by the end of July 2018. IMA has also signed put & call options on the other 30% of the shares, to be exercised after the date of approval of the full year 2023 results.

Ciemme has a positive net financial position of approximately 3 million euros and for 2018 expects sales  of  around  12  million  euros  and  an  EBITDA  of  about  2.7  million  euros  with  good  growth prospects, also thanks to the overall support that IMA can provide by integrating it into the Group's organisation.

The deal was finalised by Poggi & Associati, who also looked after the legal and tax aspects for IMA.  IMA has also been advised by PwC.